Eve Air Mobility Completes eVTOL Wind Tunnel Testing

Eve Air Mobility Completes eVTOL Wind Tunnel Testing

Scale Model Testing Used to Validate Vehicle Characteristics and Efficiency

Melbourne, Fla., May 15, 2023 — Eve Air Mobility (“Eve”) (NYSE: EVEX, EVEXW) recently completed wind tunnel testing of its electric vertical takeoff and landing (eVTOL) vehicle. The testing, which was conducted at a wind tunnel near Lucerne, Switzerland, utilized a scale model of Eve’s eVTOL which is projected to enter service in 2026.

Wind tunnel testing is an important engineering tool used in the development of an aircraft.  The testing allows engineers to monitor the flow of air over and around the vehicle and each of its individual parts. It is also used to measure the aerodynamic forces and moments acting on the vehicle, allowing the team to evaluate the vehicle’s lift, efficiency, flying qualities and performance. 

The main objective of the test was to investigate and validate how components including fuselage, rotors, wing, tail and other surfaces would perform in flight.  Wind tunnel testing provides a unique view of aerodynamic behavior of complex geometry and provides a higher level of validation of design characteristics. The tests are part of an effort to acquire experimental data to validate production solutions, development tools and models which also includes other test articles such as fixed and moving rigs, flying vehicles and other wind tunnel tests. 

“The completion of wind tunnel testing is an important engineering milestone as we continue the development of our eVTOL,” said Luiz Valentini, chief technology officer at Eve Air Mobility.  “The information we obtained during this phase of development has helped us further refine the technical solutions of our eVTOL before committing to production tooling and conforming prototypes. Our goal is to design, produce and certify an aerodynamic and efficient eVTOL that will be used for a variety of urban air mobility missions.”

Eve’s engineering team will use the data gathered through wind tunnel testing to continue to develop the eVTOL’s control laws leading to optimal performance and passenger comfort. 

Eve’s eVTOL is 100% electric and has a range of 60 miles (100 kilometers) allowing it to complete a variety of urban air mobility missions.  Its human-centered design ensures the safety, accessibility and comfort of passengers, the pilot and the community by minimizing noise. The aircraft features a lift + cruise configuration with dedicated rotors for vertical flight and fixed wings to fly on cruise, with no components required to change position during flight.  It will be piloted at launch, but ready for autonomous operations in the future.

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Image: https://shorturl.at/RT149

About Eve

Eve is dedicated to accelerating the Urban Air Mobility ecosystem. Benefitting from a start-up mindset, backed by Embraer S.A.’s more than 50-year history of aerospace expertise, and with a singular focus, Eve is taking a holistic approach to progressing the UAM ecosystem, with an advanced eVTOL project, a comprehensive global services and support network and a unique air traffic management solution. Since May 10, 2022, Eve has been listed on the New York Stock Exchange, where its shares of common stock and public warrants trade under the tickers “EVEX” and “EVEXW”. For more information, please visit www.eveairmobility.com.

Forward-Looking Statements Disclosure

Certain statements in this press release include “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as “estimate,” “plan,” “project,” “forecast,” “intend,” “will,” “expect,” “anticipate,” “believe,” “seek,” “target”, “may”, “intend”, “predict”, “should”, “would”, “predict”, “potential”, “seem”, “future”, “outlook” or other similar expressions (or negative versions of such words or expressions) that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding Eve’s expectations with respect to the development of its eVTOL. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on by any investor as, a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict and may differ from assumptions, and such differences may be material. Many actual events and circumstances are beyond the control of Eve.

These forward-looking statements are subject to a number of risks and uncertainties, including, among others: (i) changes in domestic and foreign business, market, financial, political and legal conditions; (ii) risks relating to the uncertainty of the projected financial information with respect to Eve; (iii) the outcome of any legal proceedings that may be instituted against Eve; (iv) future global, regional or local economic and market conditions, including the growth and development of the urban air mobility market; (v) the development, effects and enforcement of laws and regulations; (vi) Eve’s ability to grow and manage future growth, maintain relationships with customers and suppliers and retain its key employees; (vii) Eve’s ability to develop new products and solutions, bring them to market in a timely manner, and make enhancements to its platform; (viii) Eve’s ability to successfully develop, obtain certification for and commercialise its eVTOL; (ix) the effects of competition on Eve’s future business; (x) the outcome of any potential litigation, government and regulatory proceedings, investigations and inquiries; (xi) the impact of the global COVID-19 pandemic and (xii) those factors discussed in Eve’s Registration Statement on Form 10-K/A filed on May 4th, 2023 under the heading “Risk Factors” (Item 1.A), and other documents of Eve filed, or to be filed, with the Securities and Exchange Commission (SEC).

If any of these risks materialize or our assumptions prove incorrect, actual results could differ materially from the results implied by these forward-looking statements. There may be additional risks that Eve does not presently know or that Eve currently believes are immaterial that could also cause actual results to differ from those contained in the forward-looking statements. In addition, forward-looking statements reflect Eve’s expectations, plans or forecasts of future events and views as of the date of this press release. Eve anticipates that subsequent events and developments will cause Eve’s assessments to change. However, while Eve may elect to update these forward-looking statements at some point in the future, Eve specifically disclaims any obligation to do so. These forward-looking statements should not be relied upon as representing Eve’s assessments as of any date subsequent to the date of this press release. Accordingly, undue reliance should not be placed upon the forward-looking statements.

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